Chinese stocks listed in Shenzhen extended gains Thursday afternoon after U.S. President Donald Trump was said to be weighing a 60-day extension to the March 1 tariff deadline.
The Shenzhen Composite Index climbed as much as 1.1 percent, taking its rally in the past five trading days to 10 percent. That's its best performance over such a period since March 2016. The possibility that the U.S. will allow more time for talks before imposing higher tariffs on Chinese goods provided an extra boost to the country's stocks, already lifted by Beijing’s steps to support the market.
Shanghai Composite Index closed little changed on Thursday, edged 0.05 percent down to 2719.70.
Small caps have outperformed since last week’s Lunar New Year holiday as investors flocked to riskier assets, a turnaround from before the break when hundreds of profit warnings rattled the market. The ChiNext gauge of small caps dominated by tech stocks was up 0.3 percent at the close, taking its gain this week to 7.1 percent. The Shanghai Composite Index.